3029 Garfield Avenue Minneapolis, MN 55408

$925,000
Active
Apartment  |  MLS # 6683072
Active
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About The Listing

SELLER FINANCING AVAILABLE w/ the following terms: 25% down, 5.0% interest (interest-only), on a seven-year term. Fantastic investment opportunity to buy an apartment with seller-financing in the heart of Lyn-Lake! This fully renovated six-unit apartment at 3029 Garfield offers modern, updated units with leases running through Summer of 2025 – one unit has been left vacant to accommodate on-site showings. The unit mix consists of 1 x studio, and 5 x one-bedrooms. Tenants enjoy the convenience of mobile-friendly laundry and eight dedicated parking spaces. The property generates over $7,300/month, which includes revenue from rent, parking, pet fees, RUBs, and laundry – with the seller financing terms, this equates to a cash-on-cash return of over 10%! A turnkey investment in one of Minneapolis’s most popular rental areas—this is an income-producing property you won’t want to miss!


Listing courtesy of Paul Begich, Compass
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Property Details

Features

 
 
 
Property Type: Commercial
Status: Active
Contingency Type: None
Year Built: 1960
MLS #: 6683072
Garage Spaces: 0
Parking Description: Parking Lot
Sewer Description: City Sewer/Connected
Water: City Water/Connected
Heat Type: Boiler
Construction Description: Brick/Stone, Stucco
Disability Features: None
Latest Update: 03/13/2025
List Date: 03/13/2025
Listing Agent ID: 502047750
Listing Office: Compass
Listing Office ID: 49138
Data Source: NorthstarMLS - The Regional MLS of Minnesota
Lot Dimensions: 46' x 128'
Lot Size: 0.14 Acres
School District: Minneapolis
Tax Year: 2025
Estimated Taxes: $10,761
Contingency Type: None
City: Minneapolis
Zip: 55408
County: Hennepin
Subdivision: Motor Line Add
State: MN
Listing last updated: 03/13/25

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